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Mental incapacity guide launched by BBA

The British Bankers' Association (BBA) has produced a plain English guide to help people manage finances for people with mental disabilities.

The guide, Banking For People Who Lack Capacity to Make Decisions, offers advice on how to open an account and manage money for those unable to manage their own finances.

It also provides the documentation a bank will need to put arrangements in place.

The guide follows the Mental Capacity Act, which came into force on October 1. Banks are also specially training staff ahead of the changes.

Stewart Dickey, retail director of the BBA, says: “When people are unable to manage their finances, or are making plans in case such a situation should arise, it is important that they are dealt with sympathetically and knowledgably.

"The Mental Capacity Act makes it clear that anyone acting for people who have lost capacity must act in their best interests.”

The Act protects people who lack capacity and introduces a code of practice for those who look after someone with a learning disability. It also introduces a lasting power of attorney for property and affairs and personal welfare.

The Act also means the appointment of a new public guardian and the Court of Protection can appoint new deputies.

Any enduring power of attorney created before October 1 can continue in force and receivers previously appointed can to continue in office but will work as deputies.